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COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - LONG TITLE

An Act to amend the law relating to companies.{1}
[15th October 1963]

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - SECT 4
Liability for rentcharge on company's land after disclaimer.

4.(1) Where on a disclaimer under section 291 of the Act of 1960
land vests subject to a rentcharge in the Crown or any other
person that shall not, subject to sub-section (2), impose on the
Crown or the said other person or its or his successors in title
any personal liability in respect of the rentcharge.

(2) This section shall not affect any liability in respect of sums
accruing due after the Crown or the said other person, or some
person claiming through or under the Crown or the said other
person, has taken possession or control of the land or has entered
into occupation thereof.

(3) This section shall apply to land vesting and sums accruing due
before, as well as after, the passing of this Act.

S.5 amends s.308 of 1960 c.22 (NI)

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - SECT 6
Bona vacantia.

6. Where a company is dissolved, all property and rights whatsoever
vested in or held on trust for the company immediately before its
dissolution (including leasehold property but not including property
held by the company on trust for any other person) shall, subject
and without prejudice to any order which may at any time be made
by the court under sections 315 and 316 of the Act of 1960, be
deemed to be bona vacantia, and shall accordingly belong to the
Crown and shall vest and may be dealt with in the same manner as
other bona vacantia accruing to the Crown.

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - SECT 7
Power of Crown to disclaim title to property vesting under s.6.

7.(1) Where any property vests in the Crown under section 6 of the
Crown's title thereto under that section may be disclaimed by a
notice signed by the Treasury Solicitor.

(2) Where a notice of disclaimer under this section is executed as
respects any property, that property shall be deemed not to have
vested in the Crown under section 6, and sub-sections (3), (7) and
(8) of section 291 of the Act of 1960 and section 4 shall apply
in relation to the property as if it had been disclaimed under
section 291 (1) of the Act of 1960 immediately before the
dissolution of the company.

(3) The right to execute a notice of disclaimer under this section
may be waived by or on behalf of the Crown either expressly or by
taking possession or other act evincing that intention.

(4) A notice of disclaimer under this section shall be of no
effect unless it is executed within twelve months of the date on
which the vesting of the property as aforesaid came to the notice
of the Treasury Solicitor, or, if an application in writing is made
to the Treasury Solicitor by any person interested in the property
requiring him to decide whether he will or will not disclaim,
within a period of three months after the receipt of the
application or such further period as may be allowed by the court
which would have had jurisdiction to wind up the company if it had
not been dissolved.

(5) A statement in a notice of disclaimer of any property under
this section that the vesting of the property came to the notice
of the Treasury Solicitor on a specified date or that no such
application as aforesaid was received by him with respect to the
property before a specified date shall, until the contrary is
proved, be sufficient evidence of the fact stated.

(6) A notice of disclaimer under this section shall be delivered to
the registrar of companies for registration, and copies thereof shall
be published in the Belfast Gazette and sent to any persons who
have given the Treasury Solicitor notice that they claim to be
interested in the property.

(7) This section shall apply to property vested in the Crown as
aforesaid at the passing of this Act, and where the vesting came
to the notice of the Treasury Solicitor more than six months before
that passing notice of disclaimer under this section may (except
where an application is made to him under sub-section (4)) be
executed at any time within six months thereafter.

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - SECT 8
Liability for rentcharge on company's land after dissolution.

8.(1) Section 4 shall apply to land which by operation of law
vests subject to a rentcharge in the Crown or any other person on
the dissolution of a company as it applies to land so vesting on
a disclaimer under section 291 of the Act of 1960.

(2) In this section "company" includes any body corporate.

COMPANIES (AMENDMENT) ACT (NORTHERN IRELAND) 1963 - SECT 9
Short title and citation.

9. This Act may be cited as the Companies (Amendment) Act (Northern
Ireland) 1963, and this Act and the Companies Act (Northern Ireland)
1960 may be cited together as the Companies Acts (Northern Ireland)
1960 and 1963.